TD Bank announced it has selected CheckFree RXP from Fiserv to enable electronic bill payment for its consumer and small business customers. Checkfree will enable TD Bank customers to receive e-bills from more than 400 national and local companies directly within their online banking service, said the bank.
With CheckFree RXP, TD Bank customers will also have access to the Fiserv electronic billing and payment network, which enables next business day delivery of most payments. These user-focused capabilities, as well as integration into the bank's existing online banking service, were key factors in the TD's selection of CheckFree RXP, said the bank.
"The integration of the service into the bank's existing online banking solution will make bill payment even more convenient and accessible for users," said Rahul Gupta, group president, Digital Payment Solutions for Fiserv, in a statement.
In conjunction with CheckFree RXP, the bank will also implement Fiserv's FraudNet solution, an automated fraud detection system designed to mitigate the risk of fraudulent transactions.
Terms of the contract were not disclosed.